Scotiabank Downgrades Nutrien (NYSE:NTR) to Sector Perform

Scotiabank lowered shares of Nutrien (NYSE:NTR) from an outperform rating to a sector perform rating in a research report released on Thursday,BayStreet.CA reports. The firm currently has $62.00 price target on the stock.

NTR has been the subject of a number of other reports. Royal Bank of Canada boosted their price target on Nutrien from $60.00 to $65.00 and gave the company an “outperform” rating in a research note on Monday, May 12th. BNP Paribas upgraded shares of Nutrien to a “strong-buy” rating in a research report on Wednesday, April 9th. Wells Fargo & Company increased their price target on shares of Nutrien from $56.00 to $59.00 and gave the stock an “equal weight” rating in a research report on Monday, May 12th. CIBC lifted their price target on shares of Nutrien from $64.00 to $66.00 and gave the stock an “outperformer” rating in a research note on Tuesday, February 25th. Finally, Mizuho upped their price objective on Nutrien from $52.00 to $55.00 and gave the stock a “neutral” rating in a research note on Thursday, February 20th. Two equities research analysts have rated the stock with a sell rating, six have issued a hold rating, eight have assigned a buy rating and one has given a strong buy rating to the stock. According to MarketBeat, the company currently has a consensus rating of “Hold” and an average price target of $61.44.

Nutrien Trading Down 1.3%

NYSE:NTR opened at $58.88 on Thursday. The company has a market cap of $28.75 billion, a PE ratio of 42.98, a price-to-earnings-growth ratio of 1.19 and a beta of 0.79. The company has a current ratio of 1.27, a quick ratio of 0.82 and a debt-to-equity ratio of 0.38. The company has a 50 day simple moving average of $53.25 and a two-hundred day simple moving average of $50.55. Nutrien has a 12 month low of $43.70 and a 12 month high of $60.87.

Nutrien (NYSE:NTR) last released its quarterly earnings results on Wednesday, May 7th. The company reported $0.11 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.35 by ($0.24). The firm had revenue of $4.67 billion during the quarter, compared to analysts’ expectations of $5.16 billion. Nutrien had a return on equity of 6.81% and a net margin of 2.62%. The business’s quarterly revenue was down 5.4% on a year-over-year basis. During the same quarter last year, the business earned $0.46 earnings per share. Research analysts forecast that Nutrien will post 3.72 earnings per share for the current year.

Nutrien Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Friday, July 18th. Investors of record on Monday, June 30th will be issued a $0.545 dividend. This represents a $2.18 annualized dividend and a yield of 3.70%. The ex-dividend date is Monday, June 30th. Nutrien’s dividend payout ratio is currently 203.74%.

Institutional Investors Weigh In On Nutrien

A number of institutional investors and hedge funds have recently bought and sold shares of NTR. Fairway Wealth LLC purchased a new position in shares of Nutrien in the fourth quarter valued at about $27,000. HHM Wealth Advisors LLC raised its stake in Nutrien by 331.0% during the 4th quarter. HHM Wealth Advisors LLC now owns 625 shares of the company’s stock valued at $28,000 after purchasing an additional 480 shares during the period. Assetmark Inc. lifted its holdings in Nutrien by 1,437.5% in the 4th quarter. Assetmark Inc. now owns 738 shares of the company’s stock worth $33,000 after purchasing an additional 690 shares in the last quarter. Asset Planning Inc bought a new position in Nutrien in the 4th quarter worth approximately $35,000. Finally, Harbour Investments Inc. boosted its stake in Nutrien by 94.8% in the 1st quarter. Harbour Investments Inc. now owns 715 shares of the company’s stock worth $35,000 after purchasing an additional 348 shares during the period. 63.10% of the stock is owned by institutional investors.

Nutrien Company Profile

Nutrien Ltd. provides crop inputs and services. The company operates through four segments: Retail, Potash, Nitrogen, and Phosphate. The Retail segment distributes crop nutrients, crop protection products, seeds, and merchandise products. The Potash segment provides granular and standard potash products.